UK-based publishing, research and consultancy firm Oxford Business Group (OBG) said it has published its second country report on Myanmar.
OBG said “The Report: Myanmar 2015” charts the changes taking place across the country’s economic sectors which are helping to reshape the market as an attractive destination for global investors.
“Investment is pouring into Myanmar across the sectors as reforms gain momentum, boosting exports and putting the country on course to achieve economic growth of at least 7 percent for the rest of the decade,” Andrew Jeffreys, OBG’s CEO, said.
“Presidential elections later this year, together with looming ASEAN integration, will only heighten interest in this once forgotten country.”
OBG’s report highlights the country’s first special economic zones (SEZs), and looks at Myanmar’s evolving financial services sector including the move to allow a number of foreign lenders to enter the market and the planned opening of a national stock exchange.
The report also talks about Myanmar’s telecoms sector, which is expected to benefit from investment in infrastructure as its newly-licensed operators embark on their expansion plans, and a new legislation aimed at supporting the long-term development of Myanmar’s mining industry.
Paulius Kuncinas, managing editor for Asia, OBG, said while Myanmar’s rapid development had led to challenges in the form of bottlenecks, land disputes and high inflation, the latest wave of investment should produce a trickledown effect across most segments of the economy.
“Our second publication on Myanmar maps out the many opportunities emerging across the sectors of the economy on the back of increasing foreign participation, while considering how the country can address the issues that risk delaying or preventing it from reaching its goals,” he said.
The Report: Myanmar 2015 contains an interview with President U Thein Sein, alongside a sector-by-sector guide for investors. It also features contributions from minister for commerce U Win Myint, minister for finance U Win Shein and the chairman of the Thilawa SEZ U Set Aung.
Minister for Trade and Industry of Singapore Lim Hng Kiang, Hong Kong’s Secretary for Commerce and Economic Development Gregory So and the Executive Director of the Economic Research Institute for ASEAN Hidetoshi Nishimura also give their views on Myanmar’s development in the report.